I'm a little skeptical of the hurried nature of this rollout (i.e. all the typos) and the fact that the same guy tried to launch a skunk clone a week ago but clearly had no idea what he was doing.  But that being said, I will agree that a 1% pre-mine is sort of becoming standard, and is unfortunately enough a relief to see compared to 30%-70% pre-mine scam attempts.

I do wish that a launch time would be given specifically.  Otherwise the dev team is giving itself the added advantage of most people missing the launch.

Looks like the same guy

I keep getting stratum authentication failed at your pool with this command:

./cpuminer -a cryptonight  -o stratum+tcp://52.168.91.103:7777 -u [wallet address]

Anyone know what I'm doing wrong??  Never had this issue before.

Yes admittedly there was a healthy dose of wishful thinking in that analysis.  Its more about long term value than immediate opening price.

Honestly, if they give a dollar value for the commercial project they announce after listing, and if I'm right about the supply (im estimating 30 mill, but the devs gotta let us know), then maybe we should just divide the project value by 30 mill.  A usd$ 500,000 project would yield a price of 400 SATs, which isnt bad.

Or we can dream of a $25 million project....

Here is my rough calculation of just one comparable:

1) BCN is another CryptoNote coin and one that, as far as I can tell, has little actually backing it except community adoption (no commercial projects on roadmap as far as I can tell: https://bytecoin.org/roadmap/)

2) BCN has a market cap of US$273 million, which is probably driven by the community adoption, given the lack of commercial projects (again, I didn't read through their forum, just basing it on the roadmap)

3) If we use network hash as a proxy for adoption, BCN has 3.3 MH/s (https://minergate.com/blockchain/bcn/blocks) whereas CHRC has 80 KH/s (or 0.08 MH/s).  So CHRC has 2.4% the power of BCN's network

4) Giving CHRC 2.4% of BCN's value puts CHRC's potential market cap at US$6.5 million

5) To $6.5 million, we should add the value of CHRC's commerical projects (when announced)

6) This total should be divided by the supply.  Devs have yet to tell us what the supply is, but my rough estimate would be 350 coins/block * 88k blocks = 30.8 million CHRC

7) $6.5 million divided by 30.8 million CHRC = US 21 cents per CHRC

A disclaimer: I don't expect CHRC to open this high, as people will take time to be comfortable with the community and projects.  It is just a gauge for the long term potential of CHRC, which will also grow as the network hash and community interest grows.

Wow that's a great catch.  Premine is 5% of total supply, but over 68% of supply over the next 4 years.  Even if you only look at developer reward (11 million, not 6 million, because if you look closely, the developer reward is listed twice in the pre-mine distribution), that's still 30% of supply being developer reward for the next 4 years.

Nice try dude.  I'm all for developer rewards - they deserve to retain a small chunk.  I don't have a view on what's appropriate, but 30% is WAY too much.

Why on earth are you dignifying a 10 billion coin premine?

No exchange in their right mind will even list this, so I wouldn't worry about it.

Yeah I missed the pre-mine.  Damn.  I think even if he gives away 50% it's dead, might survive at 90% but even then I'd have my doubts.  Definitely too much dumping potential.

What a shame.

Huh, maybe a scrypt dev who knows what he's doing for a change.


See, no instamine, pretty good fact.  It's block 110 or 111 now.


EDIT: @rinemX pointed out the GIANT pre-mine, which was undisclosed, below.  This coin dead in the water unless we hear that 90% of it is being given away.

Solo mining working fine for me.  This seems like a decent launch as far as I can tell, it's only on block 89 or 90 so far, so dev is not instamining.  It's usually better to have a pool ready at launch, but the fact that dev is not instamining is very encouraging.

EDIT: @rinemX pointed out the GIANT pre-mine, which was undisclosed, below.  This coin dead in the water unless we hear that 90% of it is being given away.

Agreed, both @newcoindev1 and @danycoman have been great.  A lot more communicative than many of the teams out there (I like having devs that interact with the community, though I understand some devs think it's a distraction from development). 

May I make a couple of suggestions (in addition to what I said earlier about correcting the specs page of your website):

1) Add a roadmap to the OP.  It doesn't have to be fancy, but it would be nice to have a very high-level overview of what you're working on.  Something like (this is just an example, with some items I made up):

Roadmap:
NovaExchange listing (Voting competed, listing within a few days)
Block explorer (August 2017)
Coinexchange listing (End of August/Early September 2017)
Cryptopia Listing (September 12, 2017)
Bounty campaign (??)
Signature campaign (??)
Release of next wallet version (??)
Additional commercial investments (more information to come in Q4 2017)

2) Modify the title of the post to be something people want to click on.  "⭐⭐⭐【ANN】【 OFFICIAL】【CHARNACOIN】【CRYPTONOTE】⭐⭐⭐" takes up a lot of space yet offers little reason to click on it.  My suggestion would be to do the following after your commercial announcement ("Solar" is just an example, use whatever the project actually is): "⭐⭐⭐[ANN][CHARNACOIN][CryptoNote][Real Investments in Solar][Now Exchange Listed] ⭐⭐⭐"


These are just suggestions.  Your team will know best whether to incorporate them and how to modify them.  You guys are doing great.

Lol deleting a bunch of posts.  Classy move.

By the way, the reason no one can download your wallet is that you have given https links but your website is not protected by SSL.  You can only give http links to your site, not https.

My main issue with the website is the specs section (https://charnacoin.com/specs).  The formula for the block reward looks wrong, because if  M = 199,999,999 then the first block (at A = 0) would be a reward of (199,999,999) * 2^-20* 10^-8 = some very tiny fraction, whereas you said the early reward was 352.   Also, the specs section says there is no pre-mine, which obviously is not true.  I don't have a problem with the pre-mine at all, but you need to be transparent and correct it to say there was a 2 week pre-mine, state the number of pre-mined coins, and lay out the purposes of the pre-mine.  I have no problem with developers taking a stake in their projects, as long as it is transparent.  Your stake means you will want the project to succeed! And it is good that you will spend some of it on bounties and awareness.

Very excited to hear more about the commercial avenues, after the exchange launches of course.

Ditto, I am a big fan of coins with commercial projects underlying them (can't wait to hear what it is).  There does need to be some cleaning up of the website, a better statement of the overall vision/roadmap for the coin, provision of missing information (like the explorer), and then a general push for awareness.  The purposes of the two-week premine should be clearly explained, that usually scares a lot of people (not me, it's unrealistic to have a dev team with no stake in the coin's success).

But we understand this will all take time, and do not want you to rush any of your development work.  So please take the time to do all of this right, we can be patient.

I think 100 million might be a little high.  Block height is roughly 83,000.  If the total supply is 100 million, that suggests an average block reward of 1208.  The current block reward is 325.  Could the block reward really have started so high that the average would be above 1200??

You could be right of course, I just wanted to share my thought.  Hopefully this will be answered before it gets listed, or we will have no idea how to value it.

Agreed, nothing sad at all.  The vote is going quite well, it's been open such a short time only.

Is there a way to determine the total supply of CHRC?  That's a pretty important part of valuing the coin.  If you announce a CHRC-backed commercial project worth $10 million, there's no way for me to know what my stake is worth without knowing how many total CHRC there are in total at the current time. 

Any answer yet for what's different from other CryptoNote coins?

I think I would generally agree with the view that a lot of the dumping is happening on an ongoing basis, so its not like the dumping will get a lot worse right at block 30,000 (when the reward halves).

Think of it this way: if I'm a miner who wants to dump, and it seems so "obvious" that the price will crash due to dumps right at block 30,000, then why would I wait until that block?  I would dump at 29,999.  But then, the next miner will think the price will crash at block 29,999, and dump at 29,998.  And so on, until the smart thing to do is just dump now.

Not every miner will follow this logic, which means there will still be some dumping at block 30,000.  But I don't think it will be as bad as people think.  And it should recover in the week or two that follows.  That may scare those of you looking to make a quick buck and get out, but that's okay, you'll make some short-term gains this week and we holders will make some long-term gains in the coming months/years.  There's room for everyone to get what they want.